Latest news with #Nafed
Time of India
27-07-2025
- Business
- Time of India
Centre procures 1L tonnes of onions so far for buffer stock
Nashik: Central govt has procured around 1.07 lakh tonnes of onions so far through its two central agencies: the National Agricultural Co-operative Marketing Federation of India Ltd (Nafed) and the National Cooperative Consumers' Federation of India Limited (NCCF). This was to create a buffer stock under the price stability funds. As many as 1.06 lakh tonnes of summer onions were procured in Maharashtra alone, stated the minister of state for agriculture and farmers welfare, Ram Nath Thakur, in a written reply to questions raised by the MP from Dindori parliamentary constituency, Bhaskar Bhagare, and other MPs during the ongoing parliamentary session. Thakur said, "The ministry of consumer affairs are procuring onions, which has set the total procurement target of 3 lakh tonnes of summer onions through the Nafed and NCCF. Each agency will procure 1.5 lakh tonnes." As per the Second Advance Estimates for 2024-25, area estimates of onion in the state of Maharashtra are 9.78 lakh hectares, compared to 6.67 lakh hectares in 2023-24, This was an increase of 46%. The All-India Wholesale Price Index (WPI) for onion was reported as 279.2 for June 2024 and 185.7 for June 2025, registering a rate of inflation of 33.49%, stated the minister in a written reply. The central govt undertakes onion procurement annually to create a buffer stock. This measure aims to manage the supply of the onions, particularly during potential scarcity periods that typically occur around Aug-Sept each year.
Economic Times
24-07-2025
- Business
- Economic Times
Govt to notify new vegetable oil regulation order next week: Food secretary
The government will notify a new order next week to regulate vegetable oil products in India with modern, transparent and technologically advanced provisions, Food Secretary Sanjeev Chopra said on Thursday. The 2025 Vegetable Oil Products, Production and Availability (VOPPA) Regulation Order will replace the existing 2011 order and emphasise enhanced monitoring of edible oil imports, production, stocks and sales through digital tools. "The associations have been consulted. It's in the final stages now, probably by next week it will be notified," Chopra told reporters on the sidelines of the fourth edition of Indian Vegetable Oil Producers' Association (IVPA) Global Roundtable. The new regulation makes it mandatory for the industry to report production, sales and pricing figures. "Right now we are groping in the dark because we are dependent on the association for the data," he said. Addressing the event, the secretary said the VOPPA framework will track production, pricing and availability in real-time, providing critical data to industry stakeholders while improving compliance, market monitoring, and product integrity. On import duty cuts in crude edible oils, Chopra said the government has implemented calibrated customs duty reductions to cushion the impact of global fluctuations and ensure affordability. The government is monitoring market dynamics, conducting nationwide inspections and working with industry associations to ensure duty cuts are "swiftly passed on" to customers for fair price discovery across the supply chain. While overall food inflation remains at its lowest since 2021, edible oil has seen 20-30 per cent annual inflation except groundnut oil, which remains a concern for the government. Mustard oil prices remain firm, though government agencies like Nafed have a stock of 7 lakh tonnes of mustard seed, which should help ease pressure on rates. Stressing on achieving self-sufficiency in domestic oilseeds and edible oil production, Chopra acknowledged significant challenges ahead. The average yield of major oilseeds such as soybean, sunflower and mustard in India is very low compared to global averages. "It requires substantial investment in research and development, infrastructure development and adoption of modern agricultural practices," he said. Newly developed Indian varieties demonstrate genetic potential on par with top-performing countries globally. Scaling up production through enhanced seed replacement rates and widespread distribution are crucial steps forward. The government has launched schemes such as Pradhan Mantri Dhan-Dhaanya Krishi Yojana and National Mission on Edible Oils-Oilseeds to increase yields and production. US Soybean Export Council Regional Director Kevin Roepke said no country can be self-sufficient in everything and suggested that the US has potential to increase soybean oil exports to India from current levels. The event was attended by Godrej Industries Group Chairman and Managing Director Nadir B Godrej, IVPA President Sudhakar Desai, and ITC Ltd Agri and IT Businesses Group Head S Sivakumar.
Time of India
16-07-2025
- Business
- Time of India
Two central agencies procure 90,000 tonnes of onions so far, to complete target by first week of Aug
Nashik: Two central govt agencies have procured around 90,000 tonnes of onions from the farmer producers' companies so far against Centre's target of 3 lakh tonnes for these agencies to create a buffer stock. The National Agricultural Co-operative Marketing Federation of India Ltd (Nafed) and the National Cooperative Consumers' Federation of India Limited (NCCF) procured onions at the average price of Rs 1,634 per quintal during the last three weeks. At present, both the agencies are procuring onions at the rate of Rs 1,575 per quintal. The rates are decided by the department of consumer affairs of Union govt. Officials from the two agencies said they would complete their procurement target by Aug first week. "While NCCF has procured 54,000 tonnes of onions so far, Nafed has procured 35,000 tonnes," an official said. Union govt undertakes onion procurement annually to create a buffer stock to manage the supply of onions, particularly during the potential scarcity periods around Aug-Sept each year. Last year, govt procured 4.7 lakh tonnes of onions through Nafed and NCCF to build the buffer stock. "We have also started the registration of farmers who want to sell their produce to NCCF. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like This Could Be the Best Time to Trade Gold in 5 Years IC Markets Learn More Undo They can register on our web portal. They will get messages after the registration and can sell produce to NCCF at its nearby procurement centre," an official from NCCF said. Recently, state agriculture minister Manikrao Kokate and the marketing and protocol minister Jaykumar Rawal met Union consumer minister Pralhad Joshi in Delhi, requesting him to double the onion procurement target by Union govt from 3 lakh tonnes to 6 lakh tonnes, and procure onions directly from the farmers through auctions at the APMCs. Joshi assured both the state ministers to look into their demands positively. But even after a week, no decision has been taken in this connection.
Indian Express
20-06-2025
- Business
- Indian Express
GDP alone cannot decide country's growth, Amit Shah
Union Minister for Home and Cooperation Amit Shah on Friday said that India's growth cannot depend merely on GDP numbers but employment generation is also a key factor. 'The steps taken by Prime Minister Narendra Modi will ensure that the cooperative sector grows equally across the country and it will be a big boost to the economy. Our country cannot grow merely on GDP. With a population of 130-140 crore, the GDP will grow rapidly for sure. But everyone should get employment as well. If the rural women, youth are to get employment, then cooperation is the only tool which connects them to employment opportunities,' said Shah. He was speaking at the national conference organised by Nafed on the occasion of 2025 being the International Year of Cooperatives. Earlier, Shah said that cooperative sector weakened in the northern and eastern parts of the country and maintained to work towards symmetrical development in the coming years. 'We are already taking steps to change uneven growth of the cooperative sector to symmetrical development. The co-operative movement had weakened in the northern and eastern parts of the country and was stable mostly in western India…Cooperative sector provides for growth and development of the economy with less capital and more profit. We will make the cooperation sector progress with landmark growth and strengthen it in the nook and corner of the country,' Shah said. Shah said cooperative movement revolutionalised the rural economy and gave the example of Amul in Gujarat where 36 lakh women associated with it didn't even have Rs 100 in capital but have today handling a turnover of Rs 80,000 crore. He mentioned that dal, maize, oil seeds can be sold to Nafed from farmers and if the market rate is more, farmers can sell the produce directly. 'It is to ensure that farmers get the maximum profit,' he said. Shah said the cooperation ministry has compiled a data of cooperative units in the country so that the government knows where the vacuum is and how to expand it. Two lakh new primary agriculture credit societies (PACS) will also be formed and will be made multi-dimensional, he said.
Hindustan Times
13-06-2025
- Business
- Hindustan Times
Govt approves MSP procurement of 54,166 tonnes moong from Haryana, Gujrat, UP
The government has approved the procurement of 54,166 tonnes of moong from Haryana, Gujarat and Uttar Pradesh at a minimum support price (MSP), along with the procurement of 50,750 tonnes of groundnut from Uttar Pradesh. The procurement of the summer crops of 2025-26 will be undertaken under the central Price Support Scheme (PSS), which is activated when market rates fall below the MSP. Agriculture minister Shivraj Singh Chouhan approved the proposal to purchase crops under PSS to protect farmers' interests. The minister also approved a 15-day extension of the procurement period in Andhra Pradesh till June 26. The government has permitted the procurement of 100% production of tur, urad and masur in 2024-25 under the PSS to incentivise farmers, enhance domestic pulse production and reduce import dependence. This initiative has been extended for another four years till 2028-29. Procurement under the PSS is undertaken by central nodal agencies National Agricultural Cooperative Marketing Federation of India (Nafed) and National Cooperative Consumers' Federation of India (NCCF).
